There Are 3 Levels of Car Guy. Which One Are You?

After helping over 5,000 car buyers across 52 countries, a pattern emerges with remarkable consistency. Almost every buyer falls into one of three levels. Most start at Level 1. Very few naturally reach Level 3. The financial difference between them is not marginal — it is hundreds of thousands of dollars per decision.

LEVEL 1  —  Buying on FOMO and Hype — and Paying the Price

Level 1 is where most buyers begin, and where the most money is lost. The Level 1 buyer is not buying a car — they are buying a feeling. The feeling of being early on something desirable. The feeling that paying a premium over list price is savvy, because the car is only going to go up.

The textbook example is the Porsche 992 GT3 RS market between 2022 and 2025. At the peak of the hype cycle in 2023, examples were changing hands for over $600,000 — more than double the factory list price of $242,000. Buyers with disposable income and a fear of missing out were paying extraordinary premiums, confident that the car’s desirability was structural and permanent.

-$240,000

Lost on a Porsche 992 GT3 RS  ·  Peak 2023 to today

It was not. Today, the same car sells for under $360,000 — with some examples trading as low as $230,000 at auction. In average condition, a Porsche 911 (992) GT3 RS is now worth £317,549 — a collapse from the peak premiums paid just two years ago.

$600,000+  Peak 2023 market price

$360,000  Current market value

-$240,000  Loss in just 3 years

⚠ The Level 1 Trap: FOMO-driven buying happens in every market cycle with every high-demand model. The car is always exceptional. The timing is always the problem. Paying 150%+ over list price on a car produced in volume is not investment logic — it is emotional logic with financial consequences.

“The 992 GT3 RS is an extraordinary car. Bought at $242,000 from the factory, it may prove to be a sound investment over time. Bought at $600,000 in 2023 on hype alone, it has already cost buyers a quarter of a million dollars.”

LEVEL 2  —  Buying Used — But Without Considering Future Value

Level 2 is a meaningful upgrade from Level 1. The Level 2 buyer has learned that chasing new cars at inflated premiums is not a winning strategy. They buy used. They let someone else absorb the initial depreciation hit. They are broadly sensible buyers getting good value in the used market.

The problem is that avoiding past depreciation is not the same as ensuring future appreciation. The Level 2 buyer asks: "Has this car finished depreciating?" They rarely ask: "Will this car be worth more in five years?" Those are very different questions.

Consider the Lamborghini Huracán, the Aston Martin Vanquish S, and the Ferrari 488 GTB — all superb cars, all broadly available on the used market at what appear to be reasonable prices. But all face ongoing headwinds: high production volumes, no genuinely irreplaceable mechanical characteristics, and a broad supply of well-maintained examples competing for the same pool of buyers.

The Lamborghini Huracán has seen 22.17% cumulative depreciation since 2015, with a projected 5-year depreciation of another 13.4% from current values. Buying one today gets you past the steepest part of the initial curve — but into a long, slow decline that the collector market is unlikely to reverse for years.

“Buying used avoids the worst of past depreciation. But a car at the bottom of its depreciation curve is not the same as a car at the beginning of its appreciation curve.”

Level 2 is not wrong. It is simply incomplete. The final question — will this car be worth more, or less, than I paid for it? — is the one that separates Level 2 from Level 3.

LEVEL 3  —  Buying Cars That Don't Depreciate — and Knowing Which Ones They Are

Level 3 is where the financial picture changes entirely. The Level 3 buyer is not buying a car. They are making a considered decision about an appreciating asset — one that also happens to be a car they can use, enjoy, and experience in a way that no other asset class allows.

The Level 3 buyer asks the same questions at every purchase: Is this car genuinely scarce? Does it represent the end of something irreplaceable? Is the pool of buyers growing faster than the supply of available examples?

When the answers are yes, the results speak for themselves.

+$600,000

Lexus LFA: $350,000 in 2016 → $950,000+ in 2026

The Lexus LFA is the Level 3 case study. Originally priced at $375,000, it now regularly commands over $1 million at auctions — with the highest recorded sale reaching $1,875,000 for a Nürburgring Package, and the average sale price across all publicly recorded transactions standing at $890,544.

The buyer who acquired a standard LFA in 2016 for approximately $350,000 owns an asset worth $950,000 or more today. That is a gain of over $600,000 — while owning one of the most extraordinary driving experiences ever created by a Japanese manufacturer.

$350,000  Purchase price, 2016

$950,000+  Current market value

500  Total units ever built — worldwide

Why has the LFA performed so strongly? Only 500 were built — there will never be more. Its V10 engine was co-developed with Yamaha, engineered to a level of obsession that cannot be replicated. It was commercially underappreciated when new — LFA sales peaked in 2011 with just 62 models sold. And the pool of buyers who understand what the LFA represents has only grown with time.

This is Level 3 in its purest form: underappreciated, last of its kind, bought when the broader market had not yet arrived at the same conclusion.

Other Level 3 Cars: The Framework in Action

The LFA is not alone. The same investment framework identifies compelling opportunities across every price point and era.

• Ferrari 458 Speciale Aperta: 499 units ever built. Last naturally aspirated open-top V8 Ferrari. Bought at ~$500,000 in 2020, now worth $2,000,000+. An inflation-adjusted return of 150% in five years.

• Porsche 997 GT3 RS: Analogue, naturally aspirated, limited supply. Bought below $150,000 in 2020 by informed buyers, now consistently trading at $400,000+.

• Lamborghini Murciélago LP670-4: 186 units worldwide. Bought for $300,000 in 2016 — now worth $900,000+.

• Audi R8 V10 Manual (Gen 1): The last gated-manual Audi supercar. Up 42% over five years. 

The Difference Between the Three Levels

The gap between Level 1 and Level 3 is not intelligence or wealth. It is a framework — a set of questions asked before every purchase.

Level 1 asks: Do I want this? Is it desirable? Will I feel great owning it?

Level 2 asks: Is it good value versus new? Has the worst depreciation passed?

Level 3 asks: Is this genuinely scarce? Is it the last of its kind? Will more buyers be competing for fewer examples in five years than today?

“The financial difference between Level 1 and Level 3 on a single car purchase can exceed $500,000. The difference is not money — it is knowledge.”

Thoroughly recommend. Superb service and attention to detail. Extremely reliable. Just what you want.

— Duncan Kreeger, Owns a Ferrari 458 Speciale

Start Buying at Level 3.

I’ve spent a significant amount of time putting together a non-generic list of the 100 best investment cars to buy in 2026 — under-appreciated, last of their kind, and where the market of buyers is growing. 100 opportunities to profit from your passion. 100 cars that won’t depreciate.

👉  Access the 100 Best Investment Cars for 2026